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File #: R-2020-211    Version: 1 Name: FY 2020 Budget Amendment
Type: Resolution Status: Passed
File created: 8/5/2020 In control: Office of Budget & Performance Management
On agenda: 9/16/2020 Final action: 9/16/2020
Title: A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2020 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2019-283.
Attachments: 1. Reso-Budget Amendment.pdf, 2. Exhibits 1 thru 5.pdf

Title

A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2020 Operating Budgets Of Various Funds As Adopted And Approved By Resolution R-2019-283.

 

 

Strategic Plan Focus

Financial Management & Administration

 

 

Body

 

Staff Recommends: Approval of the Resolution.

 

Explanation:

This Resolution seeks authorization to amend the Fiscal Year (FY) 2020 Operating Budget adopted and approved by the City Commission pursuant to Resolution R-2019-283 on September 26, 2019.

 

Fiscal Impact:

Exhibits 1 - 3 include $328,399.00 of budgetary amendments within the General Fund, General Capital Fund and Gas Tax Fund.  The amendments include:

                     Allocations within the General Fund totaling $120,000.00 for items previously approved by Commission (including a legal settlement and cost for the 3-year emergency line of credit).

                     True-up of funds rolled over from the prior fiscal year within the General Capital Fund and Gas Tax Fund totaling $208,399.00.

 

Exhibits 4 and 5 include $4.5 million of budgetary amendments within the Water & Sewer Fund and Stormwater Fund.  The amendments primarily consist of:

                     Reallocation of capital funds from closed or delayed projects within the Water & Sewer Fund (approximately $3.4 million) and Stormwater Fund (approximately $772,562.00) to address current capital needs in the Public Utilities Department.

                     Transfer of available funds within the Water & Sewer Fund in the amount of $339,500.00 to address operational needs. 

 

Recommended for inclusion on the agenda by:

Laurette Jean, Director of Budget & Performance Management

Adam Reichbach, Assistant City Manager for Finance and Administration